Overview
What is Financial Services Volunteer Corps Inc?
Financial Services Volunteer Corps Inc, based in New York, is a not-for-profit organization dedicated to enhancing financial sectors in developing and emerging market countries. Through their volunteer-led missions, they offer practical assistance to central banks, commercial banking sectors, and capital markets, aiming to foster market-oriented economies. Their work also encompasses improving access to financial services for small and medium-sized enterprises, financial inclusion, and combating money laundering and financial terrorism. Additionally, they provide guidance on strengthening public financial management to governments and civil society organizations. In Nigeria, they launched a program in 2019, focusing on accountability, capacity development, and citizen engagement to promote targeted policy reforms.
Official website here: www.fsvc.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 81%, Three-Star out of Four Star rating.
Financial Services Volunteer Corps Inc (FSVC) has been assigned a Three-Star rating due to its solid performance in accountability and finance, achieving an overall score of 81%. The organization demonstrates a strong commitment to transparency, with a majority (93%) of independent board members and comprehensive financial oversight practices in place. Key financial metrics, including a program expense ratio of 83.05%, indicate that a significant portion of their funding directly supports their mission.
However, the organization faces limitations in its liabilities to assets ratio, scoring 0 out of 15 points in this area, which may raise concerns regarding its financial stability. While FSVC excels in various governance practices, the high liabilities compared to assets suggests that it may need to improve its balance sheet. Despite this, the absence of material diversion of assets and the presence of policies such as whistleblower and conflict of interest reinforce its overall accountability.
In summary, while FSVC showcases strong organizational governance and effective use of resources, potential donors and stakeholders should consider the liabilities issue when evaluating the charity's financial health. Overall, the organization presents a trustworthy option for those interested in supporting its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Financial Services Volunteer Corps Inc legitimate?
Financial Services Volunteer Corps Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Financial Services Volunteer Corps Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $1,233,938
Professional Fundraising Fees: $0
Other Salaries and Wages: $2,430,573
For more financial information, click here
Official website here: www.fsvc.org
What is the mission statement of Financial Services Volunteer Corps Inc?
Financial Services Volunteer Corps Inc, a not-for-profit organization, aims to help establish robust financial sectors in developing and emerging market countries. This is to support healthy market-oriented economies. FSVC accomplishes this mission by organizing practical technical assistance and training missions, led by senior financial sector professionals who volunteer their time. The primary focus of their work is strengthening central bank capacity, developing commercial banking sectors, and enhancing capital markets. Additionally, FSVC focuses on improving access to financial services for small and medium-sized enterprises, promoting financial inclusion, and combating money laundering and financial terrorism. In certain situations, they also advise governments and civil society organizations on improving public financial management.
Official website here: www.fsvc.org
Who is the CEO of Financial Services Volunteer Corps Inc?
John D Pompay is the President And Ceo of Financial Services Volunteer Corps Inc. The CEO's salary of Financial Services Volunteer Corps Inc is $558,497 and their total compensation is $645,176.
Official website here: www.fsvc.org
What is the revenue of Financial Services Volunteer Corps Inc?
Financial Services Volunteer Corps Inc's revenue in 2022 was $10,244,924.
Official website here: www.fsvc.org
Who are the executives of Financial Services Volunteer Corps Inc and what are their salaries?
The average compensation at Financial Services Volunteer Corps Inc during 2022 was $244,301. There are 15 employees and 216 volunteers at Financial Services Volunteer Corps Inc.
Here are 23 key members and their salaries (Financial Services Volunteer Corps Inc's CEO's salary is $558,497 and their total compensation is $645,176):
- Compensation: $558,497
- Related: $0
- Other: $86,679
- Compensation: $306,031
- Related: $0
- Other: $86,947
- Compensation: $235,555
- Related: $0
- Other: $85,545
- Compensation: $147,537
- Related: $0
- Other: $79,898
- Compensation: $200,962
- Related: $0
- Other: $16,889
- Compensation: $195,784
- Related: $0
- Other: $0
- Compensation: $121,675
- Related: $0
- Other: $55,497
- Compensation: $110,539
- Related: $0
- Other: $30,480
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
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- Other: $0
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- Other: $0
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- Other: $0
Official website here: www.fsvc.org
Where can I find the form 990 for Financial Services Volunteer Corps Inc?
Financial Services Volunteer Corps Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.fsvc.org
Learn more at the official website: www.fsvc.org
Mission Statement of Financial Services Volunteer Corps Inc
Financial Services Volunteer Corps, Inc., or FSVC, is a not-for-profit organization that operates as a private-public partnership. Its primary mission is to assist in building robust financial sectors that support market-oriented economies in developing and emerging market countries. FSVC achieves this by structuring practical, demand-driven technical assistance and training missions, led by senior financial sector professionals who volunteer their time.
The core work of FSVC focuses on strengthening central bank capacity, developing commercial banking sectors, and enhancing capital markets. Additionally, FSVC engages in various other areas, such as improving access to financial services for small and medium-sized enterprises (SMEs), promoting financial inclusion, and combating money laundering and financial terrorism. FSVC also offers advice to governments and civil society organizations on how to strengthen public financial management.
Missions undertaken by FSVC are primarily staffed by volunteer experts, with select situations involving paid consultants. The organization's activities are designed to contribute to the overall development and growth of financial sectors in various countries, ultimately leading to healthier and more sustainable economies.
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Impact
October, 2024
Financial Services Volunteer Corps Inc (FSVC) makes a significant impact by enhancing the integrity and efficiency of financial sectors in developing and emerging market countries. Its mission focuses on building robust and accountable financial systems to promote healthy, market-oriented economies.
In Niger, for instance, FSVC's 2019 initiative, funded by the U.S. Agency for International Development, targeted three essential objectives: empowering civil society organizations (CSOs) to hold the government accountable, improving government accountability and transparency, and fostering engagement between citizens, CSOs, and government entities to identify and implement necessary reforms.
Through a range of initiatives, FSVC completed 43 projects by 2021, including the development of a Citizens' Charter for the Ombudsman of Niger, training programs for CSOs in critical areas like monitoring and evaluation and advocacy, and establishing small grants programs to support local CSOs. Additionally, activities like open houses on access to information have facilitated increased citizen engagement and awareness.
FSVC's commitment to strengthening financial institutions is evident in its focus on enhancing the capacity of central banks, building robust commercial banking sectors, and developing capital markets. Further, the organization addresses financial inclusion needs and works to combat money laundering and financial terrorism, which are vital for sustainable economic growth. By providing demand-driven technical assistance and training led by senior financial sector professionals, FSVC not only fortifies financial governance but also nurtures the necessary infrastructure to support economic development.
This information is meant to be a general summary of Financial Services Volunteer Corps Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $17,298
- Program Service Revenue: $356,502
- Gross Receipts: $10,244,924
Assets and Liabilities:
- Total Assets: $10,031,990
- Total Liabilities: $7,321,993
- Net Assets: $2,709,997
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
FEES FOR SERVICE
Revenue
$356,502
Organization Details
Founding Year
1990
Phone
(212) 771-1400Principal Officer
John D Pompay
Main Address
10 EAST 53RD STREET Suite 36TH FL, NEW YORK, NY, 10022
Website
www.fsvc.orgNTEE Category
Code: Q320 - International
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